NEW YORKApril 22, 2026 /PRNewswire/ — Univest Securities, LLC (“Univest”), a full-service investment bank and broker-dealer member of FINRA and SIPC, today announced it has completed a $45 million note offering (the “Offering”) for its client Faraday Future Intelligent Electric Inc. (Nasdaq: FFAI) (the “Company” or “Faraday Future” or “FF”), a California-headquartered global shared intelligent electric mobility ecosystem company.
Under the terms of the Offering, $15 million was directly funded to the Company pursuant to the first note, and $30 million was deposited into a controlled account pursuant to a deposit account control agreement under the second note (collectively, the “Notes”). The first note carries an annual interest rate of 9%. After a six-month waiting period from the closing date, investors may request installment redemptions over the subsequent 18 months, with the Company having the option to settle in cash or shares of common stock. The conversion price is the lower of: (i) the closing price on the trading day immediately preceding the conversion date, or (ii) the average of the volume-weighted average price (“VWAP”) for the five trading days prior to that date. The Notes are subject to customary covenants, events of default, and offering caps in compliance with Nasdaq rules.
The total gross proceeds to the Company from the Offering are approximately $45 million.
Univest Securities, LLC acted as the exclusive placement agent for the Offering.
The Notes were offered and sold in a transaction exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), pursuant to Section 4(a)(2) of the Securities Act and Regulation D thereunder for transactions by an issuer not involving a public offering, and similar exemptions under applicable state laws. Consequently, the Notes and the common stock issuable upon their conversion may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. For more information on the key terms of the financing, please refer to the Company’s Form 8-K filed with the U.S. Securities and Exchange Commission (SEC) on April 20, 2026, available at http://www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Univest Securities, LLC
Registered with FINRA since 1994, Univest Securities provides a range of financial services to its global institutional and retail clients, including brokerage and execution services, sales and trading, market making, investment banking and advisory, and wealth management. It is dedicated to delivering value-added services and focuses on building long-term relationships with its clients. As a well-established Wall Street institution, Univest has successfully raised over $1.7 billion for global issuers since 2019 and completed approximately 100 transactions covering various investment banking services across sectors such as technology, life sciences, industrials, and consumer goods. For more information, please visit: www.univest.us.
About Faraday Future
Faraday Future is a global shared intelligent electric mobility ecosystem company, headquartered in California and founded in 2014. The Company is dedicated to advancing the future of mobility through electric vehicle technology, intelligent capabilities, and AI innovation. Its flagship FF 91 model commenced deliveries in 2023, embodying the brand’s relentless pursuit of ultra-luxury, cutting-edge technology, and high performance. FF’s second brand, FX, targets the mass-market mainstream automotive segment. Its first model, the Super One, is positioned as a “First-Class” Embodied AI (EAI) Multi-Purpose Vehicle (MPV), with deliveries planned to start in 2026. Additionally, FF recently announced its entry into the Embodied AI Robotics field, with related products expected to begin sales this year, further connecting its overall strategic vision of creating a new era of embodied AI in vehicles and robotics. For more information, please visit: https://www.ff.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding plans, objectives, strategies, future events or performance, and underlying assumptions and other statements that are not historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” or similar expressions that are not solely related to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks, including, but not limited to, uncertainties related to market conditions and whether the initial public offering will be completed on the anticipated terms or completed at all, as well as other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. For these reasons, investors are cautioned not to place undue reliance on any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available at www.sec.gov. Neither Univest nor the Company undertakes any obligation to update these forward-looking statements publicly to reflect events or circumstances after the date of this press release.
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